Asian shares track Wall Street higher, oil prices retreat

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — Asian shares are mostly higher after an advance on Wall Street that ended a three-day losing streak. Tokyo, Hong Kong and Shanghai advanced while Seoul edged lower. Oil prices fell back and U.S. futures climbed. On Wednesday, the S&P 500 rose 1.1%, the Dow Jones Industrial Average rose 1% and the Nasdaq rose 2%. An upbeat report from Delta Air Lines sparked a rally for companies in the travel industry, which had some of the biggest gains. Investors shrugged off further evidence of surging inflation in a U.S. government report that rising energy costs pushed wholesale prices up a record 11.2% last month from a year earlier.